Jump Financial LLC Lowers Stock Holdings in McGrath RentCorp $MGRC

Key Points

• Jump Financial LLC significantly reduced its stake in McGrath RentCorp by 64.5% during the first quarter, selling 12,647 shares and leaving it with a holding worth $775,000.
• Insider trading activity included Director Kimberly Ann Box selling 1,500 shares, decreasing her position by 17.65%, and insider Trease Kristina Van sold 2,221 shares, reflecting a 24.91% decrease in their ownership.
• McGrath RentCorp reported strong quarterly earnings of $1.46 per share, exceeding estimates and reflecting a 10.8% increase in revenue compared to the same quarter last year.

Jump Financial LLC cut its position in McGrath RentCorp (NASDAQ:MGRC - Free Report) by 64.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,953 shares of the financial services provider's stock after selling 12,647 shares during the period. Jump Financial LLC's holdings in McGrath RentCorp were worth $775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Focus Partners Wealth acquired a new stake in McGrath RentCorp during the fourth quarter worth about $136,000. State of Wyoming purchased a new stake in shares of McGrath RentCorp in the 4th quarter valued at approximately $159,000. Teza Capital Management LLC acquired a new stake in shares of McGrath RentCorp during the 4th quarter worth approximately $213,000. Nisa Investment Advisors LLC raised its position in shares of McGrath RentCorp by 9.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,093 shares of the financial services provider's stock valued at $233,000 after buying an additional 174 shares during the period. Finally, Forum Financial Management LP lifted its holdings in McGrath RentCorp by 11.2% in the fourth quarter. Forum Financial Management LP now owns 2,142 shares of the financial services provider's stock valued at $240,000 after acquiring an additional 216 shares during the last quarter. Institutional investors and hedge funds own 92.05% of the company's stock.

McGrath RentCorp Stock Up 2.3%

MGRC stock traded up $2.77 during mid-day trading on Thursday, hitting $125.18. 67,829 shares of the company were exchanged, compared to its average volume of 141,179. McGrath RentCorp has a 12-month low of $95.50 and a 12-month high of $129.93. The firm has a market capitalization of $3.08 billion, a P/E ratio of 12.15, a PEG ratio of 1.25 and a beta of 0.61. The business has a fifty day simple moving average of $120.06 and a 200-day simple moving average of $115.27.

McGrath RentCorp (NASDAQ:MGRC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.16. The business had revenue of $235.62 million for the quarter, compared to analysts' expectations of $220.71 million. McGrath RentCorp had a net margin of 26.81% and a return on equity of 13.52%. The business's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. McGrath RentCorp has set its FY 2025 guidance at EPS. Research analysts predict that McGrath RentCorp will post 6.18 EPS for the current year.

Insider Buying and Selling at McGrath RentCorp

In related news, insider Trease Kristina Van sold 2,221 shares of McGrath RentCorp stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $114.21, for a total value of $253,660.41. Following the completion of the transaction, the insider owned 6,694 shares in the company, valued at $764,521.74. The trade was a 24.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO David M. Whitney sold 2,221 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $114.21, for a total transaction of $253,660.41. Following the completion of the sale, the chief accounting officer directly owned 6,694 shares in the company, valued at approximately $764,521.74. This represents a 24.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,519 shares of company stock worth $2,529,790. 1.40% of the stock is currently owned by insiders.

McGrath RentCorp Profile

McGrath RentCorp operates as a business to business rental company in the United States and internationally. It rents and sells relocatable modular buildings, portable storage containers, and electronic test equipment. The company operates through four segments: Mobile Modular, Portable Storage, TRS-RenTelco, and Enviroplex.